News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • If all these new demands get incorporated in the final package, the legislation's price tag will drop significantly. We could be looking at something close to $1.5 trillion or even less $USD $XAUUSD https://t.co/xJtlAECDFD
  • *Reminder: Weekly Strategy Webinar Tomorrow Morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • According to GS, S&P 500 daily returns are positively correlated with flows. Over the last 3 months, flows have been strong, but the $SPX was flat (model predicted a 7% rally). When SPX returns and flows deviate, they tend to mean-revert in subsequent periods #trading https://t.co/2JbZV2dbAa
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/tWwIzXWwj3
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.https://t.co/mzeJ5x73N3 https://t.co/lDBYbDLQtZ
  • How does stock market liquidity benefit its traders? Learn more here: https://t.co/FWKyIDUwAw https://t.co/tyoYrsh8mQ
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/4078fnQJON
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/kIIBffEMi7 https://t.co/tt59BU8lnS
  • Quarterly earnings from Netflix and Tesla, two big tech companies, will take center stage next week and could set the trading tone for the S&P 500 and the Nasdaq 100. Get your weekly equities forecast from @DColmanFX here: https://t.co/NOCqjJ3TLd https://t.co/HR5xUZeJXp
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.https://t.co/fG6fNEPj9q https://t.co/ymGaYjrl1g
EUR/USD Latest: Euro Area Growth Exceeds Forecast, Euro Looks Past Data

EUR/USD Latest: Euro Area Growth Exceeds Forecast, Euro Looks Past Data

Justin McQueen, Strategist

EUR Price Analysis & News

  • Euro Area Growth Exceeds Expectations, EUR/USD Muted
  • ECB Ready to Throw the Kitchen Sink Once Again
Advertisement

Euro Area Growth Exceeds Expectations, EUR/USD Muted

Eurozone Q3 GDP printed at 12.7% exceeding expectations of 9.4%, however, remains 4.3% below 2019 levels last year. The higher than expected figure had come as little surprise with ECB President Lagarde stating as much in yesterday’s press conference. For that reason as well as the fact that the momentum in growth is expected to have slowed dramatically in Q4 amid renewed lockdown measures, the Euro had been unmoved following the release. The bigger focus for the Euro in the short term being placed on the Q4 growth outlook, alongside next week’s US election.

EUR/USD Latest: Euro Area Growth Exceeds Forecast, Euro Looks Past Data

ECB Ready to Throw the Kitchen Sink Once Again

In light of the Eurozone’s growth trajectory taking a sharp turn for the worse, the ECB President sent out a strong message that the central bank will throw the kitchen sink once again to combat the impact from a second COVID wave. Lagarde noted that they will recalibrate all instruments, suggesting that another stimulus package will not just be limited to PEPP. ECB sources later noted that the governing council had discussed recalibrating PEPP, alongside TLTROs.

EUR/USD: Risks remain tilted to the downside for the Euro with the 1.16 handle quickly approaching, thus ahead of the election the Euro is vulnerable to another leg lower as Euro longs continue to head for the exit. Elsewhere, with investment bank month-end signals now touting USD strength from earlier in the week looking for USD weakness, eyes will be on near-term support at 1.1630 before 1.1600-10. On the topside, resistance sits at 1.17.

EUR/JPY: The grind lower has shown little signs of easing, in turn, raising the risk of an extended move towards support at 121.14, which marks the 200DMA.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES